Istithmar World, the investment unit of Dubai World, is arranging a $350m loan to attract bidders to buy Inchcape Shipping Services.

The finance includes senior leveraged loans and junior debt due in about six to eight years, reports Bloomberg.

Bank of America Merrill Lynch and Royal Bank of Scotland Group are believed to be arranging the loan.

Inchape provides port, marine and cargo outsourcing services in 50 countries.